How is the equilibrium price of good determined? Explain with the help of a diagram a situation when both demand and supply curves shift to the right but equilibrium price remains the same.

Explain law of demand with the help of a demand schedule.

What will happen if the price prevailing in the market is (i) Above the equilibrium price? (ii) Below the equilibrium price? or How price and quantity are determined in the market when number of firms are fixed ? Or How is equilibrium price of a commodity determined? (Use diagram). or Explain why equilibrium price is determined at the level of output at which its demand is equal to its supply. Or How will equilibrium price be reached when there is excess demand/ excess supply? Explain with diagram. Or With the help of a suitable diagram, explain the process of determination of equilibrium price of a commodity under perfectly competitive market. Or Market for a good is in equilibrium. Explain the chain of reactions in the market if the price is (i) higher than equilibrium price and (ii) lower than

What is equilibrium price? What happens to the equilibrium price of a commodity, when its demand increases ? Show with the help of a diagram.

How does an increase in demand of a commodity affect its equilibrium price and equilibrium quantity? Explain with the help of a diagram.

Market for a good is in equilibrium. There is increase in demand for goods. Explain the chain of effects of this change. Use diagram. Or How does an increase in demand of a commodity affect its equilibrium price and equilibrium quantity? Explain with the help of a diagram. Or How will equilibrium price and quantity be affected when there is rightward shift of demand curve?

What happens to equilibrium price of a commodity if there is an increase' in its demand and 'decrease' in its supply ?

If at a given price of the commodity there is excess supply, how will the equilibrium price be reached? Explain with the help of a diagram. OR How will equilibrium price be reached when there is excess supply? Explain with a diagram. OR Explain the series of changes that will take place if market price is higher than equilibrium price. OR At a given price ofa commodity there is excess supply. Is it an equilibrium price? If not, how will the equilibrium price be reached? (use diagram) OR Suppose price of a good is higher than equilibrium price. Explain changes that will establish equilibrium supply.

Explain consumer's equilibrium in case of a single commodity with the help of a utility schedule.

What happens to equilibrium price of a commodity if there is an 'decrease in its demand and increase' in its supply ?